November 24, Bedok Finance learned that Neusoft Medical Systems Co. This means that Neusoft Medical will be listed on the Hong Kong Stock Exchange through the issuance of foreign shares. At present, Neusoft Medical has not passed the hearing of the Hong Kong Stock Exchange. Information shows that Neusoft Medical submitted its listing application on the HKSE on May 31, 2021, which is nearly six months ago. According to the progress, Neusoft Medical may hold a hearing in the near future.
1, the previous prospectus shows, Neusoft Medical was founded in 1998, for the global medical imaging solutions and services provider, for China and around the world health care providers to develop, manufacture and distribute a variety of advanced technology-based imaging, treatment and diagnostic products. Neusoft Medical is understood to be backed by Neusoft Group (600718.SH). In the shareholding structure before the listing in Hong Kong, Neusoft Group holds 29.94% of the shares, Weizhi Global holds 26.52%, Neusoft Holdings holds 15.51%, Dalian Kang Rui Dao holds 8.92%, and Tianjin Maiwang, an employee shareholding platform, holds 5.00%.
2. Neusoft Medical Chairman Liu Jiren actually controls 40.47% of Neusoft Holdings through Dalian Kangredao. At the same time, Neusoft Holdings is also the largest shareholder of Neusoft Group, holding 12.97% of the latter's shares. That means Liu Jiren is the company's ultimate de facto controller.
3. Neusoft Medical is the largest manufacturer of CT systems in China by total number of installed systems and total revenue in 2019, according to Frost & Sullivan. Neusoft Medical is also the largest exporter of CT systems in China by sales volume in 2019.
4, while the prospectus previously filed by Neusoft Medical on the Kechuan Board showed that Frost & Sullivan data said that as of the end of 2019, Neusoft Medical had 2,573 units of CT equipment in the Chinese market, accounting for 10.4% of the Chinese market's holdings, ranking first among national brands, and second only to the three major multinationals, namely GE, Siemens and Philips.
5, in 2018, 2019 and 2020, Neusoft Medical's operating income of 1.912 billion yuan, 1.908 billion yuan and 2.459 billion yuan, respectively, are maintained growth; net profit of 169 million yuan, 82.40 million yuan and 92.758 million yuan, respectively, with 2019 and 2020 being lower than 2018.
6. As of December 31, 2020, cash and cash equivalents held by Neusoft Medical was $505 million. This compares to $776 million for the same period in 2019 and $1,157 million as of December 31, 2018, a year-over-year decrease. In 2018, 2019 and 2020, Neusoft Medical's R&D expenditures will be $170 million, $181 million and $222 million, or 8.91%, 9.47% and 9.02% of total revenues, respectively; and sales and distribution expenses will be $335 million, $333 million and $361 million, or about twice as much as R&D expenses for the same periods.
7. As of December 31, 2020, Neusoft Medical's global R&D team employed 865 R&D professionals. According to the prospectus, members of its R&D team have broad expertise in medical imaging instrument design and manufacturing as well as software engineering, AI, cloud computing and other technologies.
8. According to Wisdom Sprout, Neusoft Medical has 283 patent applications, with the earliest patent application in 2002 and a patent growth rate of 48.49% in the last 3 years. Among them, there are 1241 non-appearance patents, accounting for 96.73%, including 1150 invention patents and 91 utility models.
9. In terms of the layout of technology fields, Neusoft Medical's patents are focused on detectors, CT scans, image reconstruction, medical equipment, scanning beds and other technology fields. In terms of the R&D team, Neusoft Medical has 839 inventors, of which the inventor with the highest number of inventions is Shanshan Lou.
10, it is worth mentioning that Neusoft Medical had a number of patent transfer information. It is understood that the transfer of core patents may lead to a decline in the performance of the original business. However, Wisdom Buds data show that Neusoft Medical *** has 205 patent transfer records, most of its affiliates, partly related to Philips (China) Investment Co.